Gold prices hold near $4,350 as markets await the Fed’s rate decision, with nearly all observers expecting no change today.
Gold August futures opened at $4,352.60, unchanged from Tuesday’s close but up 3.6% from last Wednesday. Prices held at $4,349.30 as of 6:42 a.m. ET, reflecting cautious trading ahead of the Fed’s announcement later today.
Markets overwhelmingly expect the Fed to leave rates unchanged, with 99.6% of observers predicting no shift. Gold has declined 5.7% over the past month but remains 28.1% higher than a year ago, down from a 95.6% annual gain in January.
A pending U.S.-Iran agreement has buoyed broader markets, though its impact on Fed policy remains uncertain. Traders are eyeing potential rate moves in September, October, or December.